Moomoo Singapore plans to integrate Fireblocks' Wallets-as-a-Service by the end of 2025 to enhance its cryptocurrency offerings within Singapore's regulatory framework.
This integration positions Moomoo to offer increased security and liquidity, impacting major assets like BTC and ETH positively in the Singapore crypto market.
Moomoo Connects with 2,400 Institutions Via Fireblocks
Moomoo Financial Singapore Pte. Ltd. will integrate Fireblocks' Wallets-as-a-Service to enhance its digital asset offerings, aiming for completion by 2025. This move will connect Moomoo to over 2,400 institutions within the Fireblocks Network.
The integration with Fireblocks aims to increase security and liquidity, offering competitive pricing. Moomoo operates under the Monetary Authority of Singapore's regulatory framework, ensuring compliance in digital asset custody.
Liquidity Boost for Moomoo Users in Singapore
The integration is expected to improve liquidity and transaction settlement for Moomoo’s users, thereby enhancing pricing competitiveness. By aligning with Fireblocks, Moomoo gains access to significant liquidity, addressing security concerns in Singapore's crypto market.
The move strengthens Moomoo's position as a reliable trading platform in Singapore. Fireblocks' infrastructure will allow Moomoo to cater to the increasing demand for digital assets from both retail and institutional sectors, affecting major cryptocurrencies like BTC and ETH.
Expert Insights on Enterprise-Grade Crypto Systems
Similar integrations by institutions like DBS Bank and Fidelity resulted in improved asset safety and institutional adoption. These partnerships have historically led to positive impacts on retail confidence in crypto products.
According to Amy Zhang of Fireblocks, the integration provides enterprise-grade infrastructure crucial for digital asset adoption. As stated by Amy Zhang, Head of APAC, Fireblocks, "By integrating Fireblocks' wallets into its platform, Moomoo is not only enhancing the security of its digital asset offerings, but also unlocking the ability to innovate and scale its offerings with confidence." Such developments often lead to increased liquidity and transaction efficiency, influencing the crypto market positively, particularly for stablecoins.
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